An internal review of Lucas Energy’s (LEI+11.1%) Eagle Ford properties shows as much as 14.5M bbl/day of oil, a big boost from its previous estimate of 3.7M bbl/day. The new estimate would take LEI’s Eagle Ford value to more than $275M, a useful number to evaluate offers by potential buyers or to assist in any decision of whether to develop or sell properties.

Hi J, I believe the stock is a good value at today's prices. The PV10 of $275M as estimated by their reserves may be high because of the difficulty to recover the oil, but as it stands, the market cap of $40M suggests significant room for upside from these levels. I have a hard time giving specific price target to the shares because: 1. The company's aggressive strategy, 2. The possibility of dilutionary other financing activities, 3. Market prices for risk assets and oil. I have been following the company since early 2010 and I think things look as good as ever for their real business and share holder value, but obviously could be wrong.